Yep. you are right.
But right now crypto it's more of a speculative asset than purely technicals,
real-life application of blockchain technology lies with innovative coins like ETH, and Shrew, I hope

That can be true because nowadays most of the current crypto projects are copycat of an open-source project. Don't get me wrong, I don't think its bad rather I like the enthusiasm of the people on it and try to implement crypto in real life such as Shrew did
Its getting some attention, check out their DXsale page, sale are doing good. they will probably get soldout in the next 3-4 weeks. The dev should provide more frequent update in his thread it seems abandon.
Perhaps they are busy with the development as of now, on top of that it isn't something new if teams abandon their ANN thread. I think it's fine as long they not abandoned the project itself and take away the funding funds